Should the government investigate current conditions? Will a free economy poison itself, and the rest of the world, as it did with subprime mortgages? Are banks and institutional investors trying to recap $385 Billion dollars (USD) in collaterized debt obligation losses? These questions and many more are being discussed at Crazy Speculators (www.crazyspeculators.com) and we think it is important. The truth is some of the major players that ruined subprime and Alt-A are the same major players driving up everything from oil and gasoline to cotton and corn.
“Let others hear your voice by signing our petition against wreckless economic policies” the web site says. After what happened in subprime markets, and the worldwide contamination of collateralized debt obligations we support their initiative. As we previously reported, loopholes allow investment banks to operate in specific markets with impunity. Regulators were slow to awaken to subprime abuses. Let us hope that those who regulate the markets are not as slow.